Cambria (CAMB) chief executive Mark Lavery reckons the motor retailer's £10.5m acquisition of a Jaguar Land Rover business in North London last year - which will contribute £1m to group profit this year - has slipped under the market radar. "We're excited by the potential," he says, explaining that the site is going to be redeveloped to complement Cambria's portfolio.
The group's performance last year exceeded Mr Lavery's expectations. New car sales rose by nearly 17 per cent, compared with 11 per cent in the wider market. Used car sales inched up by 2 per cent, and profit per unit improved. Revenue fell slightly in after-sales, but that was due to a one-off contract in the parts division; sales elsewhere rose. Overall, group underlying pre-tax profit rose by a third to £5.4m.
This year has started strongly, too. While sales of new cars might not be as frenzied as the past few years, Mr Lavery reckons trading is in the middle of the market cycle, with plenty of scope for further gains. N+1 Singer expects pre-tax profit of £6.4m this year and EPS of 5p, up from £5.4m and 4.2p.
| CAMBRIA AUTOMOBILES (CAMB) | ||||
|---|---|---|---|---|
| ORD PRICE: | 49p | MARKET VALUE: | £49m | |
| TOUCH: | 47-50p | 12-MONTH HIGH: | 58p | LOW: 44p |
| DIVIDEND YIELD: | 1.2% | PE RATIO: | 12 | |
| NET ASSET VALUE: | 28p | NET DEBT: | 16% | |
| Year to 31 Aug | Turnover (£m) | Pre-tax profit (£m) | Earnings per share (p) | Dividend per share (p) |
|---|---|---|---|---|
| 2010 | 392 | 2.6 | 2.0 | nil |
| 2011 | 373 | 4.7 | 3.5 | 0.3 |
| 2012 | 353 | 2.7 | 2.3 | 0.3 |
| 2013 | 396 | 4.0 | 3.5 | 0.5 |
| 2014 | 450 | 5.3 | 4.2 | 0.6 |
| % change | +14 | +32 | +19 | +20 |
Ex-div: 29 Dec Payment: 22 Jan | ||||
